Harvatek Corporation held its earnings call on December 12, where the management revealed that Mini LED is expected to see substantial growth next year, with its revenue share likely to surpass 15-25%. The company is also planning to establish a new factory in Xiamen to meet the demands for Micro LED equipment from its affiliate companies YTEC (YoungTek Electronics Corp) and Tianzheng International Development Group, with operations scheduled to commence in Q2 2025.
Mini LED Growth and Future Outlook
In the first three quarters of this year, the share of Mini LED in Harvatek’s revenue was only 9%. However, the company expects a significant surge in 2025, driven by a low base in 2024 and the arrival of Mini LED equipment in Q2 2024. Harvatek is focusing on COB Mini LED and RGB+IC packaging for applications in billboards and backlighting. As Mini LED applications expand, Harvatek anticipates its growth momentum will outpace other products in 2025.
Micro LED Investment and Equipment Development
In addition to its Mini LED focus, Harvatek has been investing in Micro LED research and development for years. Next year, the company will develop Micro LED equipment based on the specific precision and production process needs of its group affiliates, Jiu Yuan Electronics and Tianzheng International.
Capital Expenditure and Xiamen Factory
Harvatek estimates a capital expenditure of NT$3 billion (approx. USD 96 million) in 2025, which will cover the cost of Mini LED and Micro LED equipment as well as the construction of the Xiamen factory. The Xiamen plant is strategically designed to handle the COB Mini LED front-end chip testing, sorting, and classification, with mass production expected to begin in Q2 2025.
2025 Financial Projections
Looking ahead to 2025, Harvatek expects its overall gross margin to outperform this year. However, due to capital expenditure and depreciation, its overall revenue will only show slight improvement compared to 2024. The revenue peak is projected to occur in Q3 2025, with steady growth anticipated from 2026 to 2027.
Traditional LED Remains a Core Business
Currently, 60% of Harvatek’s revenue comes from traditional LED products, which are primarily used in applications such as flashlights, automotive interior lights, keyboard lighting, CSP white light, and home appliances. Despite fierce competition in the consumer electronics sector, demand remains stable.
Revenue Breakdown in the First Three Quarters of 2024
In the first three quarters of 2024, Harvatek reported the following revenue breakdown:
- Traditional LED: 60%
- Mini LED: 9%
- Display billboards: 2%
- IR: 18%
- VCSEL: 8%
- RGB+IC: 3%
About Harvatek Corporation
Harvatek Corporation was founded in 1995 in Hsinchu, Taiwan. It became a publicly traded company on the Taiwanese Stock Exchange in 2003. Today, it is a leading manufacturer of semiconductor chips and LEDs with a wide spectrum of applications. The company designs, manufactures, tests, and exports these products to domestic and international OEM manufacturers, trade retailers, and design houses. With the highest quality products, unparalleled customer service, and perpetual emphasis on innovation, Harvatek has become one of the world’s most preferred LED suppliers.

The increasingly diverse applications seen in this booming LED market have led to the advent of unique and innovative LED products from Harvatek. With the rapid expansion of the Communications, LED Signage, AR/VR, and Automotive markets in recent years, Harvatek has furthered its investment and research into compact surface mount LEDs commonly found in final goods. This research feeds one of Harvatek’s main goals: to be the world’s leader in SMD LED technology.
As one of the world’s leaders in SMD LED technology, Harvatek is proficient in the design and manufacturing of SMD LEDs, providing excellent backlight, indication, gaming, lighting, and sensor solutions for the multiple industries. In addition, Harvatek can integrate IC solutions into those LED applications by relying on the vanguard packaging technology.
Harvatek employs over 800 employees in its offices, including its corporate and manufacturing headquarters in Hsinchu, Taiwan and its branch office in Guangzhou, China. Harvatek International, the company’s Americas Sales Headquarters, is located in Santa Clara, California. Additionally, Harvatek’s distribution network has a far reach, with sales points originating from all over North America, Europe, and Asia. In 2010, Harvatek finished construction on a facility in the Hsinchu Science Park. Harvatek has improved its production efficiency, and in 2022, it had an installed capacity of 2.7 billion units per month, capable of handling almost any customer request.
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